Shares of miners and other commodity producers rose amid bets the U.S. would impose some tariffs on steel imports.
The Trump administration has delayed the conclusion of its investigation into additional tariffs on imported steel. One brokerage said the delay may be an indication that tariffs are unlikely to materialize, partly because President Donald Trump could be dissuaded by allies at the G-20 conference. "Given Trump's apparent tendency to change his opinion after discussions with U.S. allies, we would argue that any conclusions that 20%-25% tariffs are a done deal may be overly presumptive," said analysts at Axiom Capital Management. The changed timeline likely affects the course of a parallel probe into aluminum markets, which have suffered from similar oversupply issues.
-By Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
June 30, 2017 17:55 ET (21:55 GMT)